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"The euro is no longer under existential threat, financial stability has been restored, deficits have been halved, competitiveness is improving and as a result exports are picking up. Our economies will come stronger out of the crisis in the eurozone, more integrated."
- President of the European Council (based on The Telegraph)
Pair's Outlook
Pair is heading towards replicating yesterdays session. Although short term technicals give ideas that weekly PP might send pair testing 1.345 area. However, at the time being this is a major resistance which is likely to fail the pair and send it towards 1.31. That's where expectations of major market participants start consolidating.
Traders' Sentiment
Share of the bulls in the market is remaining stable. They continue to hold 63% of all open positions. Pressure on them, however, is increasing since 55% of all pending orders on the pair were posted by the bulls.
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